Law Merchant in United States

Law Merchant Definition

In England. The general body of commercial usages in matters relative to commerce. Blackstone calls it the “custom of merchants,” and ranks it under the head of the particular customs of England, which go to make up the great body of the common law. 1 Bl. Comm. 75. Since, however, its character is not local, nor its obligation confined to a particular district, it cannot with propriety be considered as a “custom” in the technical sense. 1 Steph. Comm. 54. It is a system of law which does not rest exclusively on the positive institutions and local customs of any particular country, but consists of certain principles of equity and usages of trade which general convenience and a common sense of justice have established, to regulate the dealings of merchants and mariners in all the commercial countries of the civilized world. 3 Kent, Comm. 2. In the United States. The law merchant of England, consisting of the body of usages, the decisions of the English courts construing the same, and statutes confirming and modifying the same prior to the Declaration of Independence, are a part of the common law of the United States. 19 111. 598; 1 Morris (Iowa) 128.

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In England. The general body of commercial usages in matters relative to commerce. Blackstone calls it the “custom of merchants,” and ranks it under the head of the particular customs of England, which go to make up the great body of the common law. 1 Bl. Comm. 75. Since, however, its character is not local, nor its obligation confined to a particular district, it cannot with propriety be considered as a “custom” in the technical sense. 1 Steph. Comm. 54. It is a system of law which does not rest exclusively on the positive institutions and local customs of any particular country, but consists of certain principles of equity and usages of trade which general convenience and a common sense of justice have established, to regulate the dealings of merchants and mariners in all the commercial countries of the civilized world. 3 Kent, Comm. 2. In the United States. The law merchant of England, consisting of the body of usages, the decisions of the English courts construing the same, and statutes confirming and modifying the same prior to the Declaration of Independence, are a part of the common law of the United States. 19 111. 598; 1 Morris (Iowa) 128.

This definition of Law Merchant is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.